Wednesday, March 23, 2016
Rockefeller Philanthropy Advisors Share Research on 'The Theory of the Foundation'
Just over 20 years ago, the iconic management expert Peter F. Drucker published an article in Harvard Business Review entitled “The Theory of the Business.” The essay called for leaders to stop focusing on what Drucker labeled “how to do” techniques, and instead think about three fundamental sets of assumptions related to the organization’s environment, mission, and core competencies.
Together, Drucker argued, these assumptions create a “theory of the business.” Importantly, he noted that all organizations, not just corporations, need a “clear, consistent, and valid” theory to succeed. He also pointed out that they need to regularly assess and adjust this theory in response to changing conditions.
Today, we need a new “theory of (or perhaps for) the foundation” to help individual organizations articulate and, if needed, revisit their specific assumptions and beliefs about how they function at an institutional level. . .